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New York, September 18
, 2000 – United
Microelectronics Corporation (UMC), one of the world's largest
independent semiconductor foundries, today announced its initial
public offering of 90 Million SEC registered American Depositary
Shares (ADS's) on September 18 in New York. The issuance
raised USD $1.3B. This transaction posted the largest dollar
value achieved for any Taiwan-corporate initial SEC offering
to date. The ADS's, representing 450 Million primary UMC
Common Shares, were priced at $14.35 per share, 15% over the
common shares, which closed at 78.00 NTD per share as of September
18, 2000. The ADSs are listed on the New York Stock Exchange,
and will trade under the symbol "UMC."
"We are happy to join the other global technology companies
listed on the New York Stock Exchange, the world's best known
and most established equities trading place," said John Hsuan,
Chairman of UMC. "We look forward to this exciting new era
for our company and our shareholders."
UMC was established in 1980 and in 1985 was the
first semiconductor company to be listed on the Taiwan Stock
Exchange. In 1995, UMC transformed its operations to become
a pure-play foundry, and, on January 3rd of this
year, consolidated its five Taiwan semiconductor foundry companies
into a single corporation, UMC.
Morgan Stanley Dean Witter, the sole bookrunner of the offering,
has a "greenshoe" option to purchase from a selling shareholder
and sell up to 2 MM more UMC ADSs.
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